Ep 126: Townhouses & Units: The New $600K Market - with Joe Tucker & Jeremy Iannuzzelli

now if you're sticking around and stayed around for this long joe's going to give us five really good areas of where if you are looking to get into the unit market these areas are prime for growth but joe coming back to you know again properties versus house and land versus units it's interesting to see that both brisbane nwa units have outpaced properties in that particular sector but is that oh is that because there is an overflow that people are still wanting to buy there they like the area and units are becoming that price point they can afford? Or is the dynamic and cultural shift of Australia changing? Because again, we go back to when I started investing, it was, you know, you want your house with the white picket fence at the front.

But, you know, we are a nation of migrants now and we are bringing in different ideals and different wants and different needs.

And housing obviously is a roof over our heads as much as is an investment.

Is that all playing into units now starting to prevail and become... better value compared to say properties which have just grown so much with a land component that we're just missing the golden goose that's in front of us

Well, the demographic has shifted quite rapidly as well, not even just from immigration side of things.

We've actually seen people reducing the house size.

So where there would be 2.6, it's now like around 2.5, 2.6 people per dwelling when it used to be three people, 3.5.

So our housing breakup is having fewer people in the dwellings, which means we don't need a four bed, two bathroom house.

I think that what happens is as our area, as our cities get bigger, you don't have a choice.

And people are absolutely fine living in townhouses and units.

And yes, absolutely.

Do I think that anyone would choose a house over a unit to live in? Yeah, I think that they probably would, but you don't have a choice.

So I think the cultural shift is there where people are comfortable and more than happy to go into a unit, go into a townhouse because it's ample room and it's culturally what people, some people are used to.

So I think there's that element to it as well.